Cyprus

Turkish Cyprus demands deadline for peace talks, rejects ‘perpetual negotiations'

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By Sinem Cengiz

Frustrated by decades of unfruitful negotiations between the Turkish and Greek sides to reunify the divided island of Cyprus, Turkish Republic of Northern Cyprus (KKTC) Ambassador to Turkey Mustafa Lakadamyalı has stated that there should be a definite deadline for negotiations on the divided Mediterranean island, adding that the talks cannot go on forever.

A bailout for Cyprus, a geopolitical failure for Russia

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By Max Fisher

Russia has a few interests at stake in the European Union bailout for Cyprus. The first and most obvious is that Russian citizens stand to lose billions of dollars worth of savings in Cyprus’s banking sector, which serves as a low-tax haven for Russian oligarchs. Those oligarchs, remember, wield outsize political power within Russia. The second is that Cyprus is a political client state of Moscow’s, a helpful little ally on such matters as sending arms to Syria. The third is symbolic, and doesn’t actually have that much to do with Cyprus itself, but with Russia’s standing in Europe.

Searching for the One to Blame for Cyprus

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By Ivan Preobrazhenskij

Who has invented the tax on Cyprus bank accounts, which the Parliament of the island country doesn’t want to approve? The European Central Bank is trying to lay the blame on the President of Cyprus, and he, in his turn, blames the governments of the Eurozone countries. Meanwhile the issue, as well as the accounts in Cyprus banks have hung up for indefinite period, as they have not yet been able to “break” the MPs. Moscow also tries to take part in the resolution of this problem, which was appointed beyond its will as a “title sponsor” of Cyprus stabilization.